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78 Page 11 tenant furnished utilities and other services (the c~County Standard") for a one (1)- bedroom residence with the particular type of amenities included in the Affordable Unit as developed upon the Property (Le. air conditioning, gas or electric stove, among others, all as identified under the County Standard). At the time of a proposed sale, the monthly Maintenance Allowance shall be recalculated as the product of twenty-fIVe percent (250/0) of the then-applicable Utilities Allowance. By way of illustration, if the Utilities Allowance at the time of a proposed sale was One Hundred Ninety-Five Dollars ($195), the Maintenance A'~wance would be Forty- Eight Dollars and Seventy-Five Cents ($48.75), calculat~~;INk One Hundred Ninety- Five Dollars ($195) multiplied by twenty-five percent {?~~,:. : fr:t.~j;j l.~~t.h;'~~ Section 3.05. Determinina Maximum A~~~~bi~'tl~~.:.,~esale Price. Maximum Affordable Unit resale price ..~l~H~" be dete';~~~~! in the Resale R . t. A t ""j! .!..,,, estnc Ion greemen. ,ii~:'i!:..: '~::.l': Section 3.06. First Right of Retll::',dri'ill " ii!'li' ;'Hl]li:i::. oi~'f:n;!:l[Y' . . The City shall have a contin~i~rg "righ~ ?f 'fI'~~.\~~f,osal" to purchase. the Affordable Units. upon the proposed resaleri~'H@1~~hfled B'cl~~f!~. as set forth In the Resale Restriction Agreement. :'~:!L\' "\'H!!:~n.Ul!';;" ";t[!!~~r.~.:. Section 3.07. Refinance "R~stricti~~ilf:rohibitiriWtbn Home E ui Lines of ...., .... ~. "'t'" " ...... ,:;:J..Lit 'redit. Home1E ui.: ;.itbarl'flt ;"..ictions. .,:)~;gy"" "';n~h. f!H~q.:I~' ';' Any refina~~H()i the loa~~:r;~sed to!:i~~rchase the Affordable Units, home equity loans and/or ~o.nili:!~~ity line~tafr~~~,ii~ mus~t~~~form to the terms and conditions of the Resale Restn~on A'9flim~~~rnwn'bi'Ut!!UH!ifl:"!;.'!" ~~~~t.~ft:J" '!Ht~f~~ibited T~;'~~rs of Affordable Units. ~J:H!~hy sale ?r t~~ri~1~r ol~~:..~ff~rdable U~~in violation of the terms a~d conditions of thr$~J~~claratlon IS ~pressIY'::'~.lctly prohIbited, shall be null and VOid, and shall constitut~\.~lpefault of De~~~rant u'8der this Declaration, entitling the City to exercise all remedies '~ftiljible at la~.~.~r in equity, including without limitation, seeking injunctive relief to 'pre"eq~.!.i~~. enj,~~;~~;lhe prohibited transfer and/or damages as provided in this Declaration. . :: j i'L. ,:<;:1 :','. : ~ ; ;. t ~ j ; ~: ;. ~.": : Section 3.09.";~::' Occuoancv Standards. During the Owner-Occupied Affordability Restrictions Term, each Affordable Unit shalt be occupied as the Principal Residence of Qualified Buyer and for no other purpose. A Qualified Buyer shall not enter into agreements for the rental or lease of the Affordable Units or otherwise allow for the rental or lease of the same. The maximum occupancy of the Affordable Units shall not exceed the maximum occupancy allowed pursuant to the general requirements of the United States Department of Housing and REOW\O001\DOC\022-3.DOC 12/23/08 900 HvT 8